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You searched for +publisher:"University of Adelaide" +contributor:("Doko Tchatoka, Firmin"). Showing records 1 – 2 of 2 total matches.

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University of Adelaide

1. Haque, Qazi G M Ziaul. Bayesian estimation of monetary DSGE models and testing for indeterminacy.

Degree: 2018, University of Adelaide

This thesis consists of three self-contained papers on U.S. monetary policy. The first paper examines monetary policy in the early 2000s, a prolonged period of low interest rates for which the efficacy of policy is intensely debated. Through the lens of an estimated simple New Keynesian (NK) model, the paper finds that when measuring inflation using headline CPI, the Federal Reserve's response to inflation turns out to be passive, therefore implying indeterminacy. Only when measuring inflation using core PCE does monetary policy appear to have been sufficiently active to rule out indeterminacy. Faced with this dilemma, the paper finally estimates an extended model that distinguishes between core and headline inflation. Estimation results from this model decisively rule out indeterminacy and suggest that indeed the Fed has put more weight on core PCE. The second paper contrasts interest rate rules featuring fixed versus time-varying inflation target. It finds that the rule embedding time variation in inflation target empirically fits better and that the Fed has been responding strongly to the inflation gap not only in the Great Moderation period but also in the Great Inflation era. Therefore, this finding rules out self-fulfilling inflation expectations as an explanation of the high inflation episode in the 1970s. The paper also documents that changes in monetary policy have dampened most of the fluctuations in the inflation gap and contributed to the decline in its persistence and predictability. The third paper investigates the impact of commodity price fluctuations on monetary policy and estimates a NK model with an explicit role for commodity price fluctuations. It finds that the pre-Volcker period is characterized by a determinate version of the model featuring high degree of real wage rigidity In this environment, the commodity price shocks of the 1970s created a severe trade-off between inflation and output gap stabilization. Faced with this puzzle, the central bank chose to react aggressively to both inflation and output growth, but not to the output gap, thereby ruling out indeterminacy. The paper further documents that oil price shocks are no longer as inflationary as they used to be due to a decline in real wage rigidity, thereby explaining the resilience of the economy to sustained oil price hikes in the 2000s. Advisors/Committee Members: Weder, Mark (advisor), Groshenny, Nicolas (advisor), Doko Tchatoka, Firmin (advisor), School of Economics (school).

Subjects/Keywords: Research by publication; monetary policy; Taylor rules; indeterminacy; trend inflation; Great Inflation; Sequential Monte Carlo

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Haque, Q. G. M. Z. (2018). Bayesian estimation of monetary DSGE models and testing for indeterminacy. (Thesis). University of Adelaide. Retrieved from http://hdl.handle.net/2440/114258

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Haque, Qazi G M Ziaul. “Bayesian estimation of monetary DSGE models and testing for indeterminacy.” 2018. Thesis, University of Adelaide. Accessed July 15, 2019. http://hdl.handle.net/2440/114258.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Haque, Qazi G M Ziaul. “Bayesian estimation of monetary DSGE models and testing for indeterminacy.” 2018. Web. 15 Jul 2019.

Vancouver:

Haque QGMZ. Bayesian estimation of monetary DSGE models and testing for indeterminacy. [Internet] [Thesis]. University of Adelaide; 2018. [cited 2019 Jul 15]. Available from: http://hdl.handle.net/2440/114258.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Haque QGMZ. Bayesian estimation of monetary DSGE models and testing for indeterminacy. [Thesis]. University of Adelaide; 2018. Available from: http://hdl.handle.net/2440/114258

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

2. Pham, Ngoc Thien Anh. Trade and economic development: evidence from less developed countries.

Degree: 2016, University of Adelaide

Improving living standards is a key priority for both policymakers and researchers. While trade is positively associated with income levels, finding evidence on the causal effect that trade may have on living standards is a challenge because decisions on whether to trade and how much to trade are not random. This thesis offers evidence on the extent to which trade activities can affect economic development in three groups of less developed countries: least developed countries (LDCs), landlocked developing countries (LLDCs), and Sub-Saharan African countries (SSAs). First, the thesis investigates if a reduction in child mortality can be achieved by increasing trade in 48 LDCs between 1995 and 2012, and whether this effect depends on a country’s type of political regime, namely, democracy or autocracy. While trade empirically promotes income levels, whether the benefits of trade activities do trickle down to ordinary citizens is questionable and may be influenced by political institutions. The thesis adopts an instrumental variable approach in a panel country and year fixed effects model to deal with unobserved factors and reverse causality. To do so, the thesis employs a known trade cost indicator that exploits information of bulk dry shipping costs captured by the Baltic Dry Index (BDI). The thesis finds that regardless of political regimes, there is no evidence that under-5 child mortality rate responds to trade arising from a cheaper shipping cost. Indeed, in autocratic LDCs, trade could even cause the child mortality rate to rise. To explore why this is the case, the thesis investigates the effect that trade might have on the environment. Evidently, trade could increase pollution, and this subsequent increase in pollution in turn relates to an increase in child mortality. Second, the thesis investigates the effect of trade cost on economic development in 31 LLDCs between 2001 and 2012. Lacking direct sea access, the LLDCs have expensive trade costs for shipping goods, which is considered a major reason for the LLDCs’ underdevelopment. Given that the LLDCs may rely on container freight for trade because of the long distances over land, the thesis proposes a new measurement of trade cost by exploiting information from the Harpex index, an international container shipping rate. The thesis employs a recent advancement in panel data estimation - the interactive fixed effect which has the ability to deal with a large class of unobserved confounding information. Consequently, a reduction in trade cost is found to benefit the LLDCs substantially, in such was as higher income levels and better health conditions. The thesis also finds that a trade elasticity of income is roughly 1 for the LLDCs, which is about five times that estimated for the world as a whole, suggesting that trade can be a powerful force for the LLDCs progress. Finally, the thesis investigates the effect of exports on urbanization in 48 SSAs between 1985 and 2012. As a feature of development, the high rate of urbanization may reflect improvements in… Advisors/Committee Members: Sim, Nicholas Cheng Siang (advisor), Doko Tchatoka, Firmin (advisor), School of Economics (school).

Subjects/Keywords: trade; development; urbanization; health; institutions; environment; less developed countries; panel data; cross sectional dependence

…tertiary institution without the prior approval of the University of Adelaide and where… …their constant support. I gratefully acknowledge financial support from the University of… …Adelaide. Finally, I would like to express my debt to my family members for their endless love… 

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Record DetailsSimilar RecordsGoogle PlusoneFacebookTwitterCiteULikeMendeleyreddit

APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Pham, N. T. A. (2016). Trade and economic development: evidence from less developed countries. (Thesis). University of Adelaide. Retrieved from http://hdl.handle.net/2440/99856

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Pham, Ngoc Thien Anh. “Trade and economic development: evidence from less developed countries.” 2016. Thesis, University of Adelaide. Accessed July 15, 2019. http://hdl.handle.net/2440/99856.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Pham, Ngoc Thien Anh. “Trade and economic development: evidence from less developed countries.” 2016. Web. 15 Jul 2019.

Vancouver:

Pham NTA. Trade and economic development: evidence from less developed countries. [Internet] [Thesis]. University of Adelaide; 2016. [cited 2019 Jul 15]. Available from: http://hdl.handle.net/2440/99856.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Pham NTA. Trade and economic development: evidence from less developed countries. [Thesis]. University of Adelaide; 2016. Available from: http://hdl.handle.net/2440/99856

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

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